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Radebe: Feedback on capping price of 93 octane expected next week

The government has proposed the move as the cost of crude oil soars, driving fuel prices to record highs.

Petrol station. Picture: EWN

CAPE TOWN - Energy Minister Jeff Radebe says the fuel industry will report back by next Thursday on whether capping the price of 93 octane is feasible.

The government has proposed the move as the cost of crude oil soars, driving fuel prices to record highs.

Radebe says the government’s overriding concern is to cushion the poor.

The government was able to use money from the Central Energy Fund to hold down the fuel price rise in September, but that was a once-off. Now it’s asked petrol industry players to advise on whether capping the cost of 93 unleaded is feasible.

Minister Jeff Radebe says an energy department task team is working with Treasury to see what can be done to protect the pockets of consumers, while fuel retailers are expected to report back next week.

"We are deeply concerned, that is why we are looking at all avenues of how we can be able to assist our people."

Opposition parties have called on the government to suspend the fuel and Road Accident Fund levies that make up much of the cost of a litre of fuel.

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